Adding cash expenses

[alexs (Alex Sherwood)]

Hi Caroline, welcome to the community

@Moki

I wanted a better way to track my spending habits rather than use a budgeting app

Are you an Android user by any chance? If not, there is a Targets feature which you can use to set a budget for each category, each month for you to use to track your spending more carefully & yes, it has helped me keep track of my spending in a way that I’ve never been able to before -

Monzo - Make money easy

If you are an Android user, this feature’s on it’s way - you can track what’s being developed & get a rough idea of when it’ll be ready, in the roadmap.

I’ve shared my thoughts on why you wouldn’t want to assign your expenses to the existing categories here but subcategories are a popular request in the community & perhaps they would solve your problem - if you’re trying to break down the Expenses category to a greater level of detail? Here’s my thoughts on how they might work -

Add Expenses + Another Category to the Same Transaction

Hey nagra, Thank you for not making this another post about custom categories! One of the ideas that have been suggested when looking for a solution to the custom categories problem, is creating sub-categories for transactions. However, I expect these would be more granular categories, while the main (parent) categories remain the same (& only one could be applied to each transaction, here’s Hugo’s explanation for why multiple categories can’t be applied to a single transaction …

We don’t know whether Monzo is considering developing subcategories yet though…

Breaking cash withdrawals down into multiple categories is a slightly tricky one & I’ve put together a summary of the discussion on that idea here -

Splitting Cash Withdrawals into Several Categories 3

If you’re withdrawing cash for a single purpose, you can categorize it already. So you could of course withdraw several amounts separately & categorize each one differently, assuming that you’re going to spend multiples of £10 on something. But obviously that’s time consuming and you might not know what you want to buy in advance so I’m guessing you’d like to have this feature The last comment I can find from Hugo on this (quite a while ago) was So this challenge + the £3k annual withdrawa…

Lastly, enabling custom categories definitely isn’t likely to happen in the foreseeable future, for the reasons that Hugo’s explained here -

https://community.monzo.com/t/custom-categories-1/649/14

but the categories are being reviewed (& I expect new categories will be added), any minute now.